Items Tagged with 'Ronald Faris'


  • Ocwen dumps Fitch, names interim CEO

    Ending contract with ratings agency, also names replacement for departing CEO
    Over the years, Fitch Ratings has frequently commented about Ocwen Financial, issuing reports and ratings actions about the nonbank’s business dealings, trials and tribulations. Well, that’s about to come to an end. But that's not the only big news that Ocwen made on Monday.
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  • Former FHA Commissioner Carol Galante joining Ocwen's board of directors

    Company also elevates Phyllis Caldwell to chair of board
    Ocwen Financial is about to add a big name to its board of directors, as the nonbank announced Friday that Carol Galante, the former commissioner of the Federal Housing Administration, is set to join the company’s board. Ocwen also announced that it is elevating Phyllis Caldwell from her current role as an independent director to serve as chair of the company’s board of directors.
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  • Ocwen CEO unveils company’s new direction

    Plans to exit agency servicing; increase mortgage originations
    Now that the dust is beginning to settle on the $150 million settlement between Ocwen Financial and the New York Department of Financial Services, the company has unveiled its plans for the future. William Erbey’s departure isn’t the only big change for the nonbank.
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  • Ocwen Touts Drop in Subprime Delinquencies

    Subprime servicing giant Ocwen Financial Corp. [stock OCN][/stock] took the unusual step of launching a press offensive Thursday, touting a recent drop in subprime delinquencies among the loans it services. The company's portfolio covers a significant portion of the subprime market -- through its subsidiary, Ocwen Loan Servicing, LLC, the company services approximately 350,000 mortgages, about 85 percent of which are subprime.
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